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Perils ups insured property loss estimate for Townsville floods to A$1.22B

Catastrophe insurance data provider Perils AG raised its insured property market loss estimate from January and February rains and flooding in northern Queensland, Australia, and in the Townsville, to A$1.22 billion.

This compares to the second loss estimate of A$1.04 billion issued by Perils on May 10.

The estimate only covers the property line of business, and losses from the motor and other lines of business are not included. The fourth loss estimate will be released on Feb. 10, 2020.